Single-family residence, condo prices rise in Thurston County

Single-family home and condominium prices climbed in the first full month of fall, while total active listings in Thurston County were the highest in the state of Washington.

The median price of a residence in the county advanced to $523,000 in October from $510,000 in October 2024. That marked an increase of 2.54 percent in the period, according to the Northwest Multiple Listing Service’s Monthly Market Update.

At the same time, the residential market posted a slight decrease in sales to 317 from 318.

The condo market heated up after a slow summer period, as the median price soared to $370,000 in October from $315,000 in October 2024. That marked a gain of 17.46 percent in the period.

Meanwhile, sales nearly doubled to 13 from seven in the same period.

Condo and home sales have been influenced by low inventory levels in the region, something that changed course during the summer months before heading the other way in October.

A total of 2.59 months of inventory existed in October, down from 2.67 months in September. The most recent reading ranked Thurston County as fourth lowest in the state.

Kitsap County ranked lowest at 2.06 months of inventory, followed by Snohomish County at 2.39 months and Douglas County at 2.53 months. Clallam County rounded out the top five at 2.60 months of inventory.

“A balanced market is considered to be (four) to (six) months by most industry experts,” said the Northwest Multiple Listing Service (NWMLS) in its Monthly Market Update.

“At the current rate of sales, it would take around (three) months (3.02) to sell every home that is active in the NWMLS inventory.”

Active residential listings were up for the sixth straight month in Thurston County. The total jumped to 805 in October from 548 in October 2024, the data showed. At the same time, condo listings nearly doubled to 50 from 26.

The 49 percent overall increase in listings was the highest in the state. Snohomish County ranked second at 42.2 percent, followed by Jefferson County at 37.4 percent.

Clallam County and Ferry County rounded out the top five at 37.2 percent and 35.7 percent, respectively.

“The number of homes for sale year-over-year increased in all of NWMLS’s coverage area, with 24 out of 27 counties seeing a double-digit year-over-year increase,” said the Northwest Multiple Listing Service in its Monthly Market Update.

New residential listings rose to 369 in October from 355 in October 2024, while new condo listings inched up to 21 from 17 in the same period.

Pending residential sales eased to 352 in October from 355 in October 2024, while pending condo sales sank to six from 18.